IRIDEX Corporation (NASDAQ:IRIX) Sees Large Decline in Short Interest
by Danessa Lincoln · The Markets DailyIRIDEX Corporation (NASDAQ:IRIX – Get Free Report) saw a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 73,137 shares, a drop of 46.9% from the January 29th total of 137,748 shares. Based on an average trading volume of 67,226 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.5% of the shares of the stock are sold short. Currently, 0.5% of the shares of the stock are sold short. Based on an average trading volume of 67,226 shares, the days-to-cover ratio is presently 1.1 days.
Institutional Investors Weigh In On IRIDEX
Several hedge funds have recently added to or reduced their stakes in the company. Weber Capital Management LLC ADV purchased a new position in shares of IRIDEX in the 4th quarter worth about $296,000. Citadel Advisors LLC lifted its position in IRIDEX by 62.7% in the 3rd quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider’s stock worth $126,000 after buying an additional 42,202 shares during the last quarter. Apexium Financial LP boosted its stake in IRIDEX by 53.0% in the third quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider’s stock worth $116,000 after buying an additional 34,834 shares in the last quarter. Thompson Davis & CO. Inc. bought a new position in IRIDEX during the second quarter valued at approximately $50,000. Finally, Susquehanna International Group LLP raised its stake in shares of IRIDEX by 46.2% during the third quarter. Susquehanna International Group LLP now owns 56,470 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 17,834 shares in the last quarter. Institutional investors own 20.10% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Alliance Global Partners assumed coverage on shares of IRIDEX in a report on Thursday, February 5th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IRIDEX in a report on Monday, December 29th. Finally, iA Financial set a $3.00 price objective on IRIDEX in a research note on Thursday, February 5th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.00.
Check Out Our Latest Stock Report on IRIX
IRIDEX Price Performance
Shares of NASDAQ:IRIX traded down $0.06 during trading on Friday, reaching $1.40. The company had a trading volume of 43,923 shares, compared to its average volume of 58,321. The company has a fifty day moving average of $1.36 and a two-hundred day moving average of $1.19. The company has a current ratio of 1.94, a quick ratio of 1.35 and a debt-to-equity ratio of 62.29. The stock has a market capitalization of $24.07 million, a P/E ratio of -4.67 and a beta of 0.70. IRIDEX has a 12 month low of $0.78 and a 12 month high of $1.65.
IRIDEX Company Profile
IRIDEX Corporation (NASDAQ: IRIX) is a medical technology company specializing in the development, manufacturing and commercialization of innovative ophthalmic laser and imaging systems. The company’s offerings focus on energy-based therapies designed to treat retinal vascular disorders, glaucoma and other ocular conditions. IRIDEX’s portfolio includes laser photocoagulation platforms, micro-pulse laser technology, and related consumable devices for use by ophthalmologists and retina specialists.
The company’s flagship products include the Cyclo G6 Glaucoma Laser System, which delivers precise, controlled micro-pulse laser therapy for patients with refractory glaucoma, and the IQ 532 Retina Laser System, designed to support minimally invasive laser treatments for diabetic retinopathy and age-related macular degeneration.